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Regulation CC imposes limits on the holds a bank can place on deposits of checks to transaction accounts. When tellers fail to place holds on deposits permitted under a bank’s funds availability policy, they increase the risk of losses due to bounced or fraudulent checks. When they place holds that aren’t permitted under the regulation, there’s added risk of litigation by bank depositors. It’s critically important that tellers understand and comply with your bank’s policy on funds availability, and that the policy complies with the Regulation CC restrictions.
This basic-level presentation on holds for tellers covers the current Regulation CC limits on deposit holds. Attendees will receive information helping them understand:
- The impact of Regulation CC on both consumer and non-consumer accounts
- The account types affected by the regulation
- Deposits that are not subject to Regulation CC, but …
- Banking days and business days under the regulation
- The concept of “available” funds
- Their bank’s Funds Availability Policy disclosure
- Deposits that receive same day availability
- Which deposits must get “next day” availability
- The $200 and $400 rules
- Case-by-case holds
- Exception holds
- Notices of holds
- And more ….
WHO SHOULD ATTEND:
Compliance officers, New accounts personnel, head tellers, tellers, training officers
Holds for Tellers
Questions and Answers